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Chances of buying an expired domain with high PR is quite slim. Usually people will hold onto their domains if they have any PR.
If you do happen to find such a domain, what you do with it would depend on several factors. This includes things like how relevant the domain is for your topic, whether the domain gets any traffic, how strong the backlinks are, how good the website is, whether the website can still make decent money on its own, etc. It also depends on how good your other website is. I don't think it's as simple as 'you should always do x if you have a 2nd domain'.
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